AMC Networks (NASDAQ:AMCX) Rating Lowered to “Hold” at StockNews.com

AMC Networks (NASDAQ:AMCX) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

A number of other equities research analysts also recently weighed in on AMCX. Seaport Res Ptn raised AMC Networks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Morgan Stanley lowered their price target on shares of AMC Networks from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Tuesday, November 12th.

AMC Networks Stock Performance

NASDAQ:AMCX traded down $1.05 during midday trading on Monday, reaching $8.79. The stock had a trading volume of 1,308,338 shares, compared to its average volume of 375,841. The stock has a market capitalization of $387.82 million, a P/E ratio of 13.95 and a beta of 1.31. AMC Networks has a 1-year low of $7.08 and a 1-year high of $18.58. The company has a debt-to-equity ratio of 2.03, a current ratio of 2.32 and a quick ratio of 2.32. The firm’s fifty day simple moving average is $9.49 and its 200-day simple moving average is $9.14.

AMC Networks (NASDAQ:AMCX) last released its earnings results on Friday, February 14th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.41). AMC Networks had a net margin of 1.45% and a return on equity of 17.41%. The company had revenue of $599.30 million for the quarter, compared to analyst estimates of $611.26 million. During the same quarter in the previous year, the company earned $0.72 earnings per share. AMC Networks’s revenue for the quarter was down 11.7% compared to the same quarter last year. On average, equities research analysts forecast that AMC Networks will post 4.09 EPS for the current fiscal year.

Hedge Funds Weigh In On AMC Networks

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in AMC Networks by 333.7% during the fourth quarter. JPMorgan Chase & Co. now owns 1,622,785 shares of the company’s stock worth $16,066,000 after acquiring an additional 1,248,571 shares in the last quarter. Contrarius Group Holdings Ltd acquired a new position in AMC Networks in the fourth quarter valued at about $5,359,000. Janus Henderson Group PLC grew its stake in AMC Networks by 2,483.1% during the fourth quarter. Janus Henderson Group PLC now owns 309,090 shares of the company’s stock worth $3,060,000 after buying an additional 297,124 shares during the last quarter. D. E. Shaw & Co. Inc. increased its holdings in shares of AMC Networks by 22.3% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,465,168 shares of the company’s stock worth $14,505,000 after buying an additional 267,044 shares in the last quarter. Finally, RWWM Inc. raised its stake in shares of AMC Networks by 20.6% in the fourth quarter. RWWM Inc. now owns 1,556,654 shares of the company’s stock valued at $15,411,000 after acquiring an additional 266,322 shares during the last quarter. Institutional investors own 78.51% of the company’s stock.

AMC Networks Company Profile

AMC Networks Inc, an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences, a platform to distributors, and advertisers in the United States, Europe, and internationally. The company operates through Domestic Operations, and International and Other segments.